NCC approves Etisalat Nigeria name change
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The Nigerian Communications Commission (NCC), has officially given approval to Etisalat Nigeria’s name change to 9mobile.
The NCC approval is sequel to its former investor Etisalat Middle East, as the parent pulling out from Nigeria following the controversy surrounding the $1.2 billion loan from a consortium of banks.
In its reply to earlier application from Etisalat management, NCC on Tuesday acknowleged the requst upon which approval has been given for the chsnge of the old name to the board and management approved.
The teleco adding that it is currently in the process of rebrand, which is to be unveil later.
In a statement the management said: “Etisalat Nigeria wishes to inform its over 20 million subscribers, government, regulatory agencies that the telecommunication company has changed its name to 9mobile.
“The move is to ensure business continuity of Nigeria’s fourth largest telecom operator.”
It would be recalled that UAE’s Etisalat terminated its management agreement with its Nigerian business in June and gave it three weeks to phase out the brand after it had to surrender its 45 per cent stake to a trustee because of the debt crisis.
Under Nigeria’s telecoms law, the NCC has to approve a transfer of telecoms licences or any new investor in a telecoms company with more than 10 percent of the shares.
Said an officila of Access Bank, on the condition of anonymity, the approval of the name change is a full confirmation that the lenders of the money have fully taken control of the embattled company.
He further stated that with the new management team on board, a new captual back up would now be in the offing to reduce the impact of withdrawal of UAE firm.